New York Markets After Hours

Polo Ralph Lauren's Q3 profit is in line with estimates

SteveGelsi

Polo Ralph Lauren
RL, +0.26%
reported third-quarter net income of $42.8 million, or 43 cents per share, down from $45.6 million, or 46 cents per share in the year-ago period. Adjusted net income was $47.1 million, or 47 cents per share, in line with the forecast in a survey of analysts by Thomson First Call. Revenue rose to $639.2 million, up from $564.7 million. The company reaffirmed its previous guidance in the range of 75 - to 80 cents per share for its fiscal fourth quarter, and said it would take a restructuring charge of $3-$7 million, net of taxes, to complete its European consultation process. Wall Street is currently expected EPS of 78 cents for the fourth quarter. Shares of Polo Ralph Lauren fell 39 cents to $20.70 on Wednesday.

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